Is this a problem with the phone or verizon?

When trying to check for system update my GS3 says
"To check for system updates,go to Settings> About device when service is available"   ( I of course have a good connection)
Also under  -Status last checked on" it says October 01 2012
Does this mean my phone hasnt updated at all since that time?
It has my Android version as 4.0.4
I have read on this message board that getting a new sim card has been a fix for others but that several have had to get the phone replaced.  I purchased this phone in September of last year shouldnt it have updated by now?
Edit:  I have tried removing the sim card and battery then rebooting several times

Although you said u checked time zone setting, just double check it to make sure.
Settings->privacy->location services->system services-> setting time zone->ON
Like you said, if its not the problem then try a hard reset by pressing and holding both the home button and sleep/wake button together untilt the apple logo appears.

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